UAE-wide panch network reaches 62

24th panch in Dubai

Dubai, January 10, 2010: Dubai Islamic Bank (DIB ) today announced the opening of a new panch in Al Nahda, Dubai, pinging the bank's UAE network to a total of 62 panches, including three Express Banking locations. The expansion of the bank's network is in line with its retail strategy, which will contribute significantly to its annual balance sheet growth. The retail banking business is expected to account for approximately 47 per cent of the bank's 2009 revenues.

"The opening of our latest panch in Al Nahda is in response to the growing needs of our customers, and a clear indicator of the healthy growth in popularity of Dubai Islamic Bank in the UAE," said Dr. Adnan Chilwan, Chief of Retail and Business Banking, DIB . "In addition to the growth in number of customers, our retail deposits as well as financing businesses are expected to show healthy growth as a result of deepening relationships with our existing customers. We are pleased that our business continues to grow on solid footing, and we will continue to expand our panch network to meet our growth requirements."

try{document.write(_banner_zone('zone9339')); }catch(e){} "Research conducted prior to opening in Al Nahda showed a strong demand for a panch in the area. As a result, we are confident we are making banking with DIB easier and more convenient for customers who live and work in this area," said Rashid Mahboob, Head of panches Management, DIB . "We welcome all our customers in the Al Nahda area to the new panch and look forward to opening more panches across the UAE in the months to come."

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About Dubai Islamic Bank :

Dubai Islamic Bank (DIB ), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices and is the largest Islamic bank in the UAE. DIB is a public joint stock company, and its shares are listed on the Dubai Financial Market. The bank enjoys a reputation as a leader and innovator in maintaining the quality, flexibility and accessibility of its products and services. The bank currently operates 62 panches in the UAE.

DIB has been proactive in creating partnerships and alliances at both the local and international level. The bank has established DIB pakistan Limited, a wholly owned subsidiary which has a network of 35 panches across 15 major cities in pakistan. DIB also has a representative office in Turkey to enhance its access to that market. DIB has also received a preliminary banking licence by the Central Bank of Jordan to operate as an Islamic financial institution through a new entity - Jordan Dubai Islamic Bank .

DIB has won the respect of its peers around the world for many years, and its leading position has been reaffirmed by the 34 awards that it has won in 2008 and 24 accolades in 2009, across diversified areas, including retail, corporate and investment banking. The bank was recently named "Best Islamic Bank" for the fourth consecutive year by Banker Middle East magazine. DIB has also received many awards from international organisations, such as the prestigious "Bank of the Year" award from The Banker (Financial Times), along with prestigious accolades from UK-based Euromoney and NY-based Global Finance magazines.

For further information, please contact:

Nicholas Nesson / Ghaleb Zeidan / Gunjan Chaurasia

ASDA'A Burson-Marsteller

Dubai, UAE

Tel: 971-4-3355969

Fax: 971-4-3356080

E-mail: n.nesson@asdaa.com / g.zeidan@asdaa.com / g.chaurasia@asdaa.com

© press Release 2010